Co-Diagnostics (NASDAQ:CODX) Releases Earnings Results, Beats Expectations By $0.24 EPS

Co-Diagnostics (NASDAQ:CODX) released its earnings results on Tuesday. The company reported ($1.01) EPS for the quarter, beating the consensus estimate of ($1.25) by $0.24, FiscalAI reports. Co-Diagnostics had a negative return on equity of 210.99% and a negative net margin of 6,531.77%. The firm had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.17 million.

Co-Diagnostics Trading Down 12.2%

Shares of NASDAQ:CODX traded down $0.04 during mid-day trading on Tuesday, reaching $0.28. The stock had a trading volume of 64,276,178 shares, compared to its average volume of 2,553,257. The business’s 50 day moving average price is $0.87 and its 200 day moving average price is $2.13. The company has a market cap of $2.47 million, a P/E ratio of -0.03 and a beta of 3.15. Co-Diagnostics has a 1 year low of $0.24 and a 1 year high of $13.54.

Wall Street Analyst Weigh In

CODX has been the subject of several research analyst reports. Maxim Group raised Co-Diagnostics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded shares of Co-Diagnostics from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings upgraded shares of Co-Diagnostics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $45.00.

About Co-Diagnostics

Co-Diagnostics, Inc is a molecular diagnostics company that develops and commercializes diagnostic tests and laboratory technologies. Based in Salt Lake City, Utah, the company focuses on assays that detect genetic material from infectious diseases and other medical conditions.

The company’s core technology is its CoPrimer platform, which is designed to support the development of molecular tests using specialized primer technology. Products associated with the platform include the Logix Smart line of real-time polymerase chain reaction (PCR) assays, covering applications such as respiratory and other infectious diseases.